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. >> writing checks from the -- >> my friend steve jobs has lots of cash in the bank. >> you started brewing sam adams beer in your kitchen in 1984. tell me how that happened, how -- how did you decide you wanted to brew your own beer in the kitchen? >> well, i come from six generations of brewmasters, so beer was kind of in my history, in my blood. about .06, that was still legal. >> homeless to a millionaire? >> we believed what we did would work, no matter how bad times were. >> in 2020, are we going to be in a much better place? the alternative was not the greatest health care system in the world with no problems. the alternative was a health care system with a lot of problems. >> if you were starting your career today, secretary solis, where would you work? >> i would want to make sure i have the skill sets available and that means soft skills, it means also technical skills. for example, even welding. did you know there's a shortage of people that have that skill available right now? >> these are the cars that run on sunday. this is the championship car that tony stewart drove.
. >> writing checks from the -- >> my friend steve jobs has lots of cash in the bank. >> you started brewing sam adams beer in your kitchen in 1984. tell me how that happened, how -- how did you decide you wanted to brew your own beer in the kitchen? >> well, i come from six generations of brewmasters, so beer was kind of in my history, in my blood. about .06, that was still legal. >> homeless to a millionaire? >> we believed what we did would work, no matter...
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Dec 31, 2012
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>> yes, steve, i would agree with you. i think the risk reward today, s&p at 1400 is very a-similar et rick. there's a limited downside and a lot of upside. i think the low for the year, we think next year, will be near 1350. so say we have 50 points of downside and we have more than 150 points on the upside. the one thing i would just caution, though, is the first half, especially if you look at history on fifth-year bull markets, you could be pretty strong out of the debate. say we hit 1,500, but we start to run out of catalyst and that's what causes the retracement. >> so your best ideas for next year, i don't think apple will be a surprise to many, although given the way that the stock is finishing the year, today not withstanding, it may be. bank of america, you expect a run in financials to continue, bac, capital one, why do you think mcdonald's has a comeback in '13? >> in general what we are looking for is blue chip branded stories with very good history in management teams. that's all the companies you just named
>> yes, steve, i would agree with you. i think the risk reward today, s&p at 1400 is very a-similar et rick. there's a limited downside and a lot of upside. i think the low for the year, we think next year, will be near 1350. so say we have 50 points of downside and we have more than 150 points on the upside. the one thing i would just caution, though, is the first half, especially if you look at history on fifth-year bull markets, you could be pretty strong out of the debate. say we...
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Dec 27, 2012
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steve weiss. >> i've never seen that many. but we've got mike murphy, who doesn't like the stock at all. he's short that thing. >> short -- >> i don't have the guts to short it. i'd like to be. i don't have the guts to. >> i think at some poinl, the valuation in amazon is going to have to come in to some sort of normal level. it's trading at 500 times current level, so, i think it will is a pull back and we're targeting the 218 level as a key level. >> all right, jane? >> all right. here's another surprise. defense industry is a huge employer. i know people who have been getting their layoff notices ahead of the fiscal cliff. market isn't playing defense in selling the stocks. no. pretty close though their 52-week highs and have outperformed the s&p. in fact, lockheed and raytheon ended up, melissa. >> doc j, what do you see? >> ah, i like general dynamics the most of the group. it's only about 4% year to date. some of these others are up double digits. all of general dynamics move lately, melissa, has come since the election.
steve weiss. >> i've never seen that many. but we've got mike murphy, who doesn't like the stock at all. he's short that thing. >> short -- >> i don't have the guts to short it. i'd like to be. i don't have the guts to. >> i think at some poinl, the valuation in amazon is going to have to come in to some sort of normal level. it's trading at 500 times current level, so, i think it will is a pull back and we're targeting the 218 level as a key level. >> all right,...
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Dec 31, 2012
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>> all right, steve. will do. we are still awaiting president obama to see how things are taking shape on parts of the deal for washington. back in two minutes. sfls welcome back to prounch. in just a few moments the president will take to the foed poed yum there to talk about the fiscal cliff negotiations. john, you have outlined what we believe are some of the components of this possible deal. given what you know, which side gave more at this point? >> i think everybody is giving. look, the president wanted, and democrats wanted, having campaigned on it, $250,000 threshold for family income for the return to the clinton jer gentleman tafrm rates of 39.6. republicans didn't want tax increases on anybody. democrats wanted more on estate tax. they are getting it. not as much as the president proposed in his budget. so the magic of these deals is that everybody can describe something as victory. and if we get it, if democrats ultimately can come to an accord with republicans on the length of the deferral of the auto
>> all right, steve. will do. we are still awaiting president obama to see how things are taking shape on parts of the deal for washington. back in two minutes. sfls welcome back to prounch. in just a few moments the president will take to the foed poed yum there to talk about the fiscal cliff negotiations. john, you have outlined what we believe are some of the components of this possible deal. given what you know, which side gave more at this point? >> i think everybody is giving....
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Dec 26, 2012
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let's do on the technical side and fundamental side with steve cortes. good to see you both. one has been a stellar performer and the other not so much. what do you like right now? >> bill, you just summed it up. the news came out over the weekend and the market is telling you what you should believe in. netflix is up 1% and amazon down 3.5%. look at the chart in amazon, you can see it's been showing us this over the last four months. amazon put a high in at 261. about eight days ago tried to take out that high and couldn't do it. it put in a double top. that's a sign of a -- you know, of a failure. you have a stock like amazon who basically -- the stock failed at 261 and now we have a 20-day moving average which it broke through and 209-day moving average, the last time it broke through the 20-day moving average it fell 13%. now we look over at netflix, that's a totally different story, right you? said it was a dog. it bottomed out at $54 and broke above its 20-day moving average and stayed above its 20-day moving average for the last four weeks. if it stays above its $20 mo
let's do on the technical side and fundamental side with steve cortes. good to see you both. one has been a stellar performer and the other not so much. what do you like right now? >> bill, you just summed it up. the news came out over the weekend and the market is telling you what you should believe in. netflix is up 1% and amazon down 3.5%. look at the chart in amazon, you can see it's been showing us this over the last four months. amazon put a high in at 261. about eight days ago...
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our thanks to steve for that. >>> meantime, coming up on the show, will washington be able to get its act together to avoid letting the u.s. economy fall off a cliff? we've got a panel of washington insiders to give you the real story. >>> plus, a closer look at the markets including a best emerging market performer this year. if you invested in this index, you'di inbe up 50%. we'll tell you what it is and what could see a pop next year. >>> we'll bring you retail numbers as they trickle in. much coming up. [ male announcer ] it's that time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. you can stay in and share something... or you can get out there and act
our thanks to steve for that. >>> meantime, coming up on the show, will washington be able to get its act together to avoid letting the u.s. economy fall off a cliff? we've got a panel of washington insiders to give you the real story. >>> plus, a closer look at the markets including a best emerging market performer this year. if you invested in this index, you'di inbe up 50%. we'll tell you what it is and what could see a pop next year. >>> we'll bring you retail...
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Dec 26, 2012
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. >> steve weiss quickly. >> john, how do you see it playing out? we've seen a lot of ends being front end loaded only to fall off and maintain the back end. with everything that's going on in terms of spending, cutting back from europe and from u.s. standpoint. how do you see it playing out next year in terms of the market action? >> in terms of the market action, what we would expect, the first quarter a lot is going to depend on what happens with the fiscal cliff. as i said before, if we move into a recession, you're not going to get a 1585 target or 2 $108 in earnings. we're not expecting the powers that be in washington are going to be willing to save a defeat from the jaws of victory. >> you haven't watched them before, john, have you? >> i've been around for a long time. i have watched them before. i do know that they worry about legacy. the history books would write about them and say do this. >> it's good to talk to you. thank for coming on. >> thanks for having me. >>> pete, 1585 is the price target. second highest on the street just behin
. >> steve weiss quickly. >> john, how do you see it playing out? we've seen a lot of ends being front end loaded only to fall off and maintain the back end. with everything that's going on in terms of spending, cutting back from europe and from u.s. standpoint. how do you see it playing out next year in terms of the market action? >> in terms of the market action, what we would expect, the first quarter a lot is going to depend on what happens with the fiscal cliff. as i said...
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. >> let's get more insight from steve from web bush securities. how much of a nail biter is this for you in terms of fiscal cliff and the markets? >> i think pretty clear at this point that if there's a deal coming, it's gonna be coming very, very soon. i think the markets discounted the fact we are going to get some sort of deal t has held up fairly well here and i think if we don't get a deal, we will see a selloff. i don't know how considerable, but certainly see the 2, 3% decline in the market. >> does it amaze you, steve, that the markets, in your view, still consider a given that we are going to reach a deal? here we are thursday, december 27th. they still haven't issued a 48-hur notice for congress to return to capitol hill and yet you're saying the markets have baked in some sort of deal? >> yeah, i think so. i don't in he isly think the deal happened december 31st. if we pass waite without a deal earthquake the market will think something is going to happen in early january this is the way washington works, they walk right up to the edge
. >> let's get more insight from steve from web bush securities. how much of a nail biter is this for you in terms of fiscal cliff and the markets? >> i think pretty clear at this point that if there's a deal coming, it's gonna be coming very, very soon. i think the markets discounted the fact we are going to get some sort of deal t has held up fairly well here and i think if we don't get a deal, we will see a selloff. i don't know how considerable, but certainly see the 2, 3%...
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steve, really appreciate your time. >>>. >> other stories we're keeping an eye on this morning, chinese manufacturing activity has hit its fastest pace in a year and a half. the december reading pmi index rose to 51.5 this month. the reading is the strongest since may 2011. and the good news doesn't stop there. it points to continued strength in the new year. chinese shares are up 1.6%. >>> big u.s. banks are reportedly close to a $10 billion settlement to regulators to hold them liable for bad foreclosure practices. nearly 40% of the settlement would go to people who already lost their homes. in february, five banks agreed to a $25 billion settlement. time says 14 are involved in this round of talks. as part of the deal which could come this week, the banks will have to hire independent consultants to go back through their loan records. >>> and a group of private equity firms, including carlisle, would agree to buy duff and seltz for $655 million. the deal gives the company an opportunity to go and shop for higher prices. >>> and secretary of state hillary clinton is in a new york hosp
steve, really appreciate your time. >>>. >> other stories we're keeping an eye on this morning, chinese manufacturing activity has hit its fastest pace in a year and a half. the december reading pmi index rose to 51.5 this month. the reading is the strongest since may 2011. and the good news doesn't stop there. it points to continued strength in the new year. chinese shares are up 1.6%. >>> big u.s. banks are reportedly close to a $10 billion settlement to regulators to...
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steve weis our bear. you must be concerned about the instagram loss of users. >> the instagram news was very negative for facebook. but if you saw the boy genius had an article out this morning that said they've actually gained users. contradicting what the new york post said as far as losing users. when you look at facebook it is really a valuation call. from the $38 price target it has come down south of 20. now you look at it and you're talking about revenues for next year. where are they going to generate revenues? we heard from zuckerberg who is growing into his role as a ceo. no longer a kid in a hoody but a guy running a multimillion dollar company. >> a married man. >> now you look for next year they expect north of $2 billion in revenue from their mobile apps. you look at the big kicker for next year and one of the main reasons i'm long facebook currently is their want buttons and gift buttons. when you're on facebook you click on a gift button and, bang. all of a sudden you send over to steven w
steve weis our bear. you must be concerned about the instagram loss of users. >> the instagram news was very negative for facebook. but if you saw the boy genius had an article out this morning that said they've actually gained users. contradicting what the new york post said as far as losing users. when you look at facebook it is really a valuation call. from the $38 price target it has come down south of 20. now you look at it and you're talking about revenues for next year. where are...
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those are my predictions for 2013. >> those were steve's predictions. now let's get some more market predictions from our 2013 next guest, joining us now larry mcdonald, new edge senior vice president, and a guy who saw the bubble coming. loved your book. you know that. good to see you, larry. how are you? >> hey, andrew. thanks very much. >> so what do you think? give it to us straight here. >> well, i think joe's had it right for most of the last week. this debt ceiling issue is literally like an optionality impact on the market. so in other words, the president had a chance, the speaker offered the president a one-year extension on the debt ceiling, as well as tax increases above 500,000. those are two colossal gives. in return, the bottom, bottom line is, you can't talk about ten years. the president did not offer any meaningful cuts in medicare in 2013, in 2014, so you have all of these newly elected 2010 house of representatives, the gop took 61 seats, the most since 1938. so you have all these new, newly elected representatives, that really boehn
those are my predictions for 2013. >> those were steve's predictions. now let's get some more market predictions from our 2013 next guest, joining us now larry mcdonald, new edge senior vice president, and a guy who saw the bubble coming. loved your book. you know that. good to see you, larry. how are you? >> hey, andrew. thanks very much. >> so what do you think? give it to us straight here. >> well, i think joe's had it right for most of the last week. this debt...
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. >> tim geithner told steve liesman. >> i have it ready. >> that he is we should show it multiple times. >> tt is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest -- remember, it's only 2%. and all of those americans get a tax cut on the framework of the first $250,000 of their income. >> yeah, yeah, you still get the 250, andrew. they love that. what does oh, absolutely mean, bob? >> maybe it means his favorite movie was "rebel without a cause." >> go the. >> i guess it's letting the other side know you're willing to go eyeball to eyeball with something that is terrible. >> i see both sides pretending to say, yeah, we're doing all we can, but it's almost just like this -- like boehner just said, hey, you guys, you happen, in the democratic-controlled senate, you put a bill together. i'd love to consider it. he can't get his guys to consider a democratic bill. >> as long as they feel like they can blame the other guy, they feel they have cover. this is
. >> tim geithner told steve liesman. >> i have it ready. >> that he is we should show it multiple times. >> tt is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest -- remember, it's only 2%. and all of those americans get a tax cut on the framework of the first $250,000 of their income. >> yeah, yeah, you still get the 250,...
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steve liesman has more on that. >> we talk about a lot of these big numbers that are out there and we don't talk about what it means to individuals. so let me see if i can break down the big numbers into something that might mean something to individual people here. $620 billion, that's the number that's the total revenue increases and spending cuts. about $130 billion of the automatic cuts that john harwood was just talking about, talking about trying to ally for a little while. 1920. that's if you break it down by every man, woman and child in america. that's the per capita fiscal cliff effect. but that effects a lot of people differently here. $26.2 million. that's the number of americans that will be caught by the amt, the alter naf tax system, unless congress comes up with a patch and that's part of the whole fiscal cliff effect. come on over here, we'll show you more. 2.1 million, that's the number of long term unemployed americans who will lose the extended benefits again if there's no fix to the fiscal cliff. $1,000, that's the amount that the average family will see a tax hik
steve liesman has more on that. >> we talk about a lot of these big numbers that are out there and we don't talk about what it means to individuals. so let me see if i can break down the big numbers into something that might mean something to individual people here. $620 billion, that's the number that's the total revenue increases and spending cuts. about $130 billion of the automatic cuts that john harwood was just talking about, talking about trying to ally for a little while. 1920....